DMO Releases Q1 2019 Public Debt Data – Marginal Increase of 2.3% in Total Public Debt Recorded

The Debt Management Office in its practice of
publishing the Public Debt Data comprising the Domestic and External Debts of
the Federal Government of Nigeria (FGN), the 36 States of the Federation and
the Federal Capital Territory (FCT), has released the Total Public Debt Data as
at March 31, 2019. At ₦24.947 Trillion (US$ 81.274 Billion) as at March 31,
2019, the Total Public Debt grew marginally by 2.30% when compared to the
figure of ₦24.387 Trillion (US$ 79.437 Billion) as at December
31, 2018.

The increase of ₦560.009
Billion in the Total Public Debt in Q1 2019, was accounted for largely by
Domestic Debt which grew by ₦458.363 Billion. Increases were recorded in the
Domestic Debt Stock of the FGN, States and the FCT. External Debt also
increased by ₦101.646 Billion during the same period.

In relation to the Debt Management Strategy, the Ratio
of Domestic to External Debt stood at 68.49% to 31.51% at the end of March
2019. The Total Public Debt to GDP Ratio was 19.03% which is within the 25%
Debt Limit imposed by the Government.

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